Common use of Inability to Execute GMP Agreement Clause in Contracts

Inability to Execute GMP Agreement. This Agreement is solely for the Services defined in this Section 2 and as detailed in the Work Plan. In entering into this Agreement, Owner and Design-Builder recognize that they may not be able to finalize the GMP Exhibit and execute a GMP Agreement for this Project. In the event Owner and Design-Builder do not successfully finalize the GMP Exhibit and execute a GMP Agreement for this project, this Agreement will be terminated and Design-Builder will be paid the value of its services to the date of termination, not to exceed the Contract Price, and will not be entitled to any other compensation, damages, loss of profits or payment of any other kind.

Inability to Execute GMP Agreement. This Agreement is solely for the Design Services and Preliminary Services as defined in this Section 2 Sections 2.1 and as detailed in the Work Plan2.2 hereof. In entering into this Agreement, Owner and Design-Builder recognize that they may not be able to finalize the GMP Exhibit and execute a GMP Agreement for this Project. In the event Owner and Design-Builder do not successfully finalize the GMP Exhibit and execute a GMP Agreement for this project, this Agreement will be terminated and Design-Builder will be paid the value of its services to the date of termination, not to exceed the Contract Price, and will not be entitled to any other compensation, damages, loss of profits or payment of any other kind.